The aim of the EXCYT project (EXotics with CYclotron and Tandem) is the development of a facility for producing and accelerating exotic beams from 0.2 up to 8 MeV/amu. EXCYT is based on the two accelerators method. A K = 800 Superconducting Cyclolron (CS), axially injected by the ECR ion source SERSE, will deliver the primary beam. Such a beam will produce the required nuclear species in a modified ISOLDE type target-source complex. When required, a 15 MV Tandem Van der Graaff will accelerate the secondary beams. Both accelerators are existing and operational at Laboratorio Nazionale del Sud (LNS). Concerning the status of the project, progress has been made in most of the key issues of the project, like the construction of SERSE, cyclotron upgrading, modification of the existing building, high resolution mass separator, and diagnostic equipment for low energy, low intensity beams.